Bitcoin / TetherUSGiá lên
BTC Prj.2019.P03E05, Finding the bottom.V2
Cập nhật
Observations>
On the WEEKLY Chart (looking long)
> NVT indicator on the edge of the critical line of 150. Historically once this is broken below, there has been a strong down trend
> 10 EMA is being touched, if this is broken, it will be a temporarily a bearish sign, as it will the 1st time this year to be broken.
> MACD heading towards bearish trend, histogram dropping in levels
> Current price at the 0.382 level, a critical support level.
> The Weekly candle support line is 8900 as a major support line, complemented by the position of the 2/1 fib fan
On the DAILY Chart (looking long)
> NVT indicator has dropped below the critical line of 150. Historically once this is broken, there has been a strong down trend.
> RSI is heading south towards oversold region...still has more room to go.
> The 55 EMA will act as resistance and the next level of support is the 100 EMA, complemented or acknowledged as well by the 2/1 fib fan.
> MACD histogram is looking bearish strong
> Momentum to the down side slowed down by the current strong support level held at 9200 to 9500 range, it could be either a consolidation or an accumulation area.
On the 4 HRLY Chart
> The bounce or follow through looks week, no large volume (32 min left).
> 9K is the last level of support for this juncture.
> The bounce seemed to be premature at 9214 price.
> RSI shows no bullish divergence, and other indicators don't give any short term direction for bullish.
< 10 EMA looks long away as a resistance and support at 9400 looks week on the 1 HRLY chart.
LOWER time frames
> 1 hrly chart, 10 EMA acting as resistance
> RSI lingering in the bottom layer of the chart, bearish still
> ADX, DI looks bearish
> Volume looks disappointing
BTC dominance:
Its hit an all time high for this year, signified by the red resistance line. 69.6%
Looking for a drop in BTC dominance to the 10 EMA, so a slight advantage for the short term for the ALTs.
Next dominance target, 76%, so more bad news for ALT holders.
Conclusion: Looking for a bounce off 8900 to 9000 and another rally up before heading down to 7500 to 8200 Range.
WEEKLY Chart:
DAILY Chart:
4 HRLY Chart:
1 HRLY and 2 HRLY Chart:
CME BTC Future Chart:
BTC Dominance:
On the WEEKLY Chart (looking long)
> NVT indicator on the edge of the critical line of 150. Historically once this is broken below, there has been a strong down trend
> 10 EMA is being touched, if this is broken, it will be a temporarily a bearish sign, as it will the 1st time this year to be broken.
> MACD heading towards bearish trend, histogram dropping in levels
> Current price at the 0.382 level, a critical support level.
> The Weekly candle support line is 8900 as a major support line, complemented by the position of the 2/1 fib fan
On the DAILY Chart (looking long)
> NVT indicator has dropped below the critical line of 150. Historically once this is broken, there has been a strong down trend.
> RSI is heading south towards oversold region...still has more room to go.
> The 55 EMA will act as resistance and the next level of support is the 100 EMA, complemented or acknowledged as well by the 2/1 fib fan.
> MACD histogram is looking bearish strong
> Momentum to the down side slowed down by the current strong support level held at 9200 to 9500 range, it could be either a consolidation or an accumulation area.
On the 4 HRLY Chart
> The bounce or follow through looks week, no large volume (32 min left).
> 9K is the last level of support for this juncture.
> The bounce seemed to be premature at 9214 price.
> RSI shows no bullish divergence, and other indicators don't give any short term direction for bullish.
< 10 EMA looks long away as a resistance and support at 9400 looks week on the 1 HRLY chart.
LOWER time frames
> 1 hrly chart, 10 EMA acting as resistance
> RSI lingering in the bottom layer of the chart, bearish still
> ADX, DI looks bearish
> Volume looks disappointing
BTC dominance:
Its hit an all time high for this year, signified by the red resistance line. 69.6%
Looking for a drop in BTC dominance to the 10 EMA, so a slight advantage for the short term for the ALTs.
Next dominance target, 76%, so more bad news for ALT holders.
Conclusion: Looking for a bounce off 8900 to 9000 and another rally up before heading down to 7500 to 8200 Range.
WEEKLY Chart:
DAILY Chart:
4 HRLY Chart:
1 HRLY and 2 HRLY Chart:
CME BTC Future Chart:
BTC Dominance:
Ghi chú
Sometimes visual aid helps significantly, Heikin Ashi chart.Ghi chú
The 4 HRLY Chart view. Low 9K will not last long as a support.Ghi chú
Hitting a main resistance. We need to see an open and close above this for the next stage which is above the 21 MA on the 4 HRLY Ghi chú
Just for the record, we did have a H&S perfectly on the mark where it dropped.Ghi chú
progress update: 55 EMA on the HRLY still resistanceGhi chú
Ghi chú
Ghi chú
Ghi chú
Final words for this post.So far none of the key levels have been passed decisively or past. Hence still a down trend and target is the 8500 to 8700 where I'm planning to go long...if all things look good. Note, there might be a few bounces along the way like 8900.
This daily with the 55 EMA and 50 SMA has not had a open and close above it, until this happens, I don't see a change to the current direction nor my bias to the downside.
Ghi chú
I believe I found the formation its becoming, if you want to know, respond to me and I will share.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.